During the 1980s and early 90s, interstate natural gas markets in the United States made a transition away from the regulation that characterized the previous three decades. With abundant supplies and plentiful pipeline capacity, a new order emerged in which freer markets and arbitrage closely...

We examine the literature that considers the consequences of U.S. reliance on imported oil. We take an approach that covers many ideas about the costs arising from U.S. reliance on imported oil, and we identify which of those ideas have broad support in the economics literature and which ideas...